Monte dei Paschi Explores Takeover of Banco BPM After Merger Talks Collapse

Monte dei Paschi di Siena is reportedly exploring a potential takeover of Banco BPM as an alternative strategy to fend off a hostile bid from Intesa Sanpaolo. This development follows the collapse of "merger of equals" talks between Monte dei Paschi and Banco BPM on Friday. Monte dei Paschi's chief executive, Luigi Lovaglio, is said to be considering approaching Crédit Agricole, Banco BPM's largest shareholder, although no contact has been made yet.